Cyprus Public Transport (CPT) marked its fourth anniversary, showcasing its role in transforming public transportation and attracting more passengers. CEO Julio Tiron, speaking at a media event, highlighted the company’s achievements, including daily ridership exceeding 36,000. He added that CPT employs over 600 staff, making it a leading employer. “Four years ago, we took on […]
Home sales in Cyprus surged 31% in 2023 from 2022, the highest increase among European Union countries, according to data released by Eurostat, the EU’s statistical service. This notable growth marks the third consecutive year that home sales in Cyprus have risen, contrasting sharply with trends in most other EU countries, where transactions have generally […]
Hermes Airports, which manages and operates both the Larnaca and Paphos international airports, on Monday announced that it has received an award for its leadership and HR practices. According to the announcement, the HR Excellence Award was awarded to Hermes during the Annual Congress & General Assembly of ACI Europe, which took place last week […]
Approximately 7,000 people in Cyprus work in forex, although the actual number may potentially be much higher than that, according to recently published research from TradeInformer, a business-to-business news and research portal that covers the global retail trading industry. According to the above figure, this means that approximately 1.65 per cent of Cypriot private sector […]
The Cyprus Statistical Service (Cystat) announced on Monday that the total number of vehicle registrations from January to June 2024 increased by 19.2 per cent, reaching 26,250. This represents a significant rise from the 22,021 vehicles registered during the same period in 2023. Focusing on saloon passenger cars, there’s been an increase of 17.2 per […]
Building permit issuance in Cyprus saw a rise of 8.3 per cent in the period from January to April 2024, compared to the corresponding period of the previous year, according to a report released on Monday by the Cyprus Statistical Service (Cystat). According to the report, local authorities issued 2,545 permits in the first four […]
Cyprus has been recognised as a Strong Innovator in the European Innovation Scoreboard for the third consecutive year, according to an announcement released on Monday by the Deputy Ministry of Research, Innovation and Digital Policy. The ministry stated that Cyprus has secured 10th place among EU member states, achieving 106.3 per cent of the European […]
Smart Nicosia, a project of innovative technologies and applications enriching the lives of residents and visitors alike, is now just a click away. The municipality invites everyone to discover the city’s vision and conveniences firsthand through its new user-friendly and accessible-to-all website. The new site provides information on air quality, smart waste to know when your […]
A scientific expedition from the University of Siena has unearthed a 4000-year-old temple in Erimi, Cyprus. The temple was found in an area that once housed a craftsman’s workshop. According to archaeologist Luca Bombardieri, who spoke to the Italian news agency ANSA, this is the oldest sacred site discovered on the island so far. Bombardieri […]
Here are the top business stories in Cyprus from the week starting July 1: Energy Minister George Papanastasiou recently pointed out Egypt’s pivotal role as a key partner for Cyprus during his interview with the Cyprus News Agency (CNA) on Sunday. This statement was made in the context of the EU-Egypt Investment Conference in Cairo, which unfolded […]
Cyprus was cited as an example to follow regarding its startups environment that is second only to tourism in contribution in the island’s economy at a major conference in Athens last week. “Technology is everywhere; it is our future and the future of the next generation by promoting transparency and changing areas in our daily […]
Cyprus’ Industrial Turnover Index rose by 11.1 per cent in April 2024, when compared with the same month of the previous year, according to a report released on Friday by the Cyprus Statistical Service (Cystat). Delving into the details, the industrial index for April 2024 climbed to 133.8 points, based on the 2021 benchmark of […]
The Paphos Chamber of Commerce and Industry (Evep) has teamed up with the European Affairs Unit, allowing them to jointly participate in the Green Synergy programme, which is supported by the European Union’s Erasmus+ programme. This initiative is expected to foster environmental sustainability and spur economic growth in the Paphos business community. According to an […]
Robotex MRC 2024, Cyprus’ largest educational robotics festival, concluded with resounding success over the weekend of June 29 and 30. Organised by the Cyprus Computer Society (CCS) and hosted at the University of Cyprus Sports Centre, the event drew hundreds of participants and captivated thousands of visitors. In a ceremonious opening, Nicodemus Damianou, the Deputy […]
Cyprus made “notable progress” in 2023 “in gigabit connectivity infrastructure (FTTP), and in the share of ICT specialists in employment, however important challenges persist in at least basic digital skills and e-health. In its Digital Decade Country Report 2024 for Cyprus, the European Commission says “Cyprus has made significant progress over the last few years.” […]
Credit rating agency Fitch Ratings this week upgraded Hellenic Bank’s long-term Issuer Default Rating (IDR) to ‘BBB-‘ from ‘BB+’, with a stable outlook, and its Viability Rating (VR) to ‘bbb-‘ from ‘bb+’. In an announcement released on Tuesday, Fitch stated that this upgrade primarily reflects the recent upgrade of Cyprus’ economic rating to BBB+/positive and […]